Introduction 3 What is Brand Equity? Role of Brands The Scope of Branding
Theoretical Perspectives 4 Brand Equity Models Brand Asset Valuator Brand Resonance Pyramid Building Brand Equity Measuring Brand Equity Managing Brand Equity
What is Brand Equity?
As defined by the American Marketing Association a Brand is the “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors” . Therefore Brand Equity can then be defined as “a set of assets such as name awareness, loyal customers, perceived quality, and associations (i.e.: being “pure” and “it floats”) that are linked to the brand and add (or subtract) value to the product or service being offered”  or in short it is “the added value endowed on products & services” .
Role of Brands
Brands help consumers identify the manufacturer or service provider easily and as a result it helps simplify decision making and lower search costs . It is also a stand for quality and thereby establishing a competitive advantage in the market. A strong brand will help create barriers for new entrants in to the market by way of establishing brand loyalty, which in turn would result in securing a price premium. Having a strong brand also warrants for legal protection (by way of patents, trademarks, copyrights etc.) .
References: , ,  – , ,  Philip Kotler, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha – Marketing Management; A South Asian Perspective (13th Edition)  Aaker, D.A. – Managing Brand Equity; Capitalizing on the Value of a Brand Name  Keller, K. L. – Strategic Brand Management  Kevin Lane Keller – Brand Planning (eArticle; Published by Shoulder of Giants)  Pekka Tuominen, Ph.D (Econ. & Bus. Adm.) – Managing Brand Equity ,  Kevin Lane Keller – Conceptualizing, Measuring, Managing Customer-Based Brand Equity (Journal of Marketing)  The IKEA Way – www.ikea.com  Elen Lewis – IKEA; A Brand for All the People